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Callander, Steven - 2013

We present a model where heterogeneous districts choose both whether to experiment and the policies to experiment with. Since districts learn from each other, the first-best requires that policy experiments converge so that innovations are useful also for neighbors. However, the equilibrium...

Persistent link: https://www.econbiz.de/10013073557

Subsidiarity and the European Union

Inman, Robert P.; Rubinfeld, Daniel L. - 2021

of local interests in, and the decision-making rules for, the Union. Subsidiarity is to be the guiding principle. This … essay reviews three alternative models of subsidiarity -- decentralized federalism, centralized federalism, and democratic …

Persistent link: https://www.econbiz.de/10013225568

What Does the European Union Do?

Alesina, Alberto; Angeloni, Ignazio; Schuknecht, Ludger - 2021

We construct a set of indicators to measure the policy-making role of the European Union (European Council, Parliament, Commission, Court of Justice, etc.), in a selected number of policy domains. Our goal is to examine the division of prerogatives between European institutions and national...

Persistent link: https://www.econbiz.de/10013215691

Decentralized Mining in Centralized Pools

Cong, Lin William - 2019

The rise of centralized mining pools for risk sharing does not necessarily undermine the decentralization required for … decentralization, because larger pools better internalize their externality on global hash rates, charge higher fees, attract …

Persistent link: https://www.econbiz.de/10012891776

The Eurocrisis : Muddling Through, or on the Way to a More Perfect Euro Union?

Aizenman, Joshua - 2014

institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing … responsibility for the euro's future. Germany's resilience and dominant size within the EU may explain its "muddling …

Persistent link: https://www.econbiz.de/10013052139

From Bismarck to Maastricht : The March to European Union and the Labor Compact

Krueger, Alan B. - 2021

This paper considers the likely impact that European Union (EU) will have on the labor compact. It is argued that, despite increased economic integration in Europe, countries will still be able to maintain distinct labor practices if they are willing to bear the cost of those practices. The...

Persistent link: https://www.econbiz.de/10013227743

The European Union : A Politically Incorrect View

Alesina, Alberto; Perotti, Roberto - 2021

In this paper, we present our view of the recent evolution of European integration. We first briefly describe the main features of the institution and decision making process in the European Union, with particular attention to the debate between federalists and super nationalists. We then...

Persistent link: https://www.econbiz.de/10013235303

The European Union, the Euro, and Equity Market Integration

Bekaert, Geert - 2010

At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to equity market integration in Europe. We use a simple and essentially model free measure of bilateral market segmentation: two countries are segmented if there is a wide...

Persistent link: https://www.econbiz.de/10013135396

Has the European Union Achieved a Single Pharmaceutical Market?

Timur, Aysegul - 2010

. Hedonic regressions show that over time, cross-country price differences between Germany and three of the four other EU sample …

Persistent link: https://www.econbiz.de/10013139285

The Euro and European Economic Conditions

Feldstein, Martin S. - 2011

The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several countries, the fragile condition of major European banks, the high levels of unemployment, and the large trade deficits that now exist in most Eurozone countries. Although the...

Persistent link: https://www.econbiz.de/10013118129